Fortunately, for would-be homebuyers, it’s not all bad news. “There are more than 25,000 lenders, countless loan programs,

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Closing costs can bust a homebuyer’s budget View Larger Image In the emotional rush that precedes buying a home – negotiating contract details and price, beating away rival bidders, searching for the best mortgage deal – closing costs often aren’t.

To get a better idea of the total closing costs you should budget for, Bankrate has an interactive map. Home Maintenance In general, you should plan on paying 1 to 2 percent of the value of your home every year in maintenance and upkeep, according to the Harvard University Joint Center on Housing Studies.

And with the median US listing price sitting at $300,000, choosing the wrong house is not a mistake many can afford to make..

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But where you are buying can have a big impact on how much you will pay in closing costs. Our study shows closing costs as a percentage of median home value by county. To calculate closing costs we assumed a 30-year fixed-rate mortgage on each county’s median home value and a 20% down payment.

Some people just tell you to estimate 2%-5% of the costs of the home for closing. Since I know you’re most likely a first time home buyer, you are on a strict budget and want to get as close to the actual figures to buy a house as you can. With this in mind, I had this closing costs calculator custom made to help you. So let’s get started.

In the emotional rush that precedes buying a home – negotiating contract details and price, beating away rival bidders, searching for the best mortgage deal – closing costs often aren’t a pressing.

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Closing costs can bust a homebuyer’s budget In the emotional rush that precedes buying a home, closing costs often aren’t a pressing concern. Yet what you pay at settlement can be surprisingly expensive, even a budget buster.

We asked the What Works Nowexperts to explain just how much buyers should anticipate spending on closing costs and what those costs represent. the What Works Now experts say. For starters,

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